00:00It's Benzinga bringing Wall Street to Main Street
00:02Panic at South Korea's markets as the Kospi index plunged 12% on Wednesday after a 7.2% drop
00:09on
00:09Tuesday, marking its biggest sell-off on record, according to Bloomberg. Samsung Electronics,
00:15SK Hynix, and Hyundai Motor-led declines, triggering a 20-minute trading halt in Wednesday's
00:20early session. Only 10 of more than 800 benchmark stocks finished higher, and a volatility gauge
00:26reached its highest level since 2008. Investors had piled into chip stocks on artificial intelligence
00:31optimism, driving the Kospi up nearly 50% at its peak this year. Record margin debt amplified losses
00:38as leveraged positions faced forced liquidation. The government said it may deploy its $100 trillion
00:43stabilization program if volatility intensifies. For all things money, visit Benzinga.com.
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